FW: Frontrunning: November 23

• Ex-Goldmanite Gary Gensler "Tickled Pink" as CFTC Ramps Up for Price Fixing
  Posted by: EB
  Post date: 11/23/2010 - 10:28
  While Bernanke was putting the finishing touches on QE2 in DC, 50 global financial regulators met at the New York Fed to discuss regulation of world's largest market. Instead of financial reform measures, what is being created is simply a massive new power center headed by the CFTC from which those at the top will vainly attempt to manipulate market prices and entrench favored institutions within the new framework.

• China Is In a Self-Imposed Bubble That Has Nowhere To Go But Bust! You Don’t Get Something (Growth Through Stimulus) For Nothing (No Economic Consequences)
  Posted by: Reggie Middleton
  Post date: 11/23/2010 - 10:13
  The bubble know one wants to admit is priming to pop just in time to massage the European issues.

• Star Options Trader Charles Hughes Sees the Greatest Bull Market in Stocks in Our Lifetime
  Posted by: madhedgefundtrader
  Post date: 11/23/2010 - 07:55
  The seven time winner of the International Trading Championship gives his long term technical view. If the market reverts to the mean and makes up for the recent lost decade, then we should earn 22% a year over the next decade. Chuck thinks we have a lot of catching up to do.

Frontrunning: November 23

Submitted by Tyler Durden on 11/23/2010 09:12 -0500

• Consumer Confidence
• France
• Germany
• Gross Domestic Product
• International Monetary Fund
• Ireland
• Italy
• North Korea
• Norway
• Reserve Currency
• Reuters
• Volatility
• Yuan

• Goodbye reserve currency: Yuan begins trading against the rouble (China Daily) this is big news
• US has no good options over North Korean clash (FT)
• South Korea Prepared to Implement Market-Stability Measures After Shelling (Bloomberg)
• Focus Shifts to China as North Korea Tensions Escalate (Reuters)
• China Inflation `Volcano' May Prove Too Hot for Controls After Cash Surge (Bloomberg)
• Growth in Thailand, Malaysia Slows, Heralding Caution in Asian Rate Moves (Bloomberg)
• Irish PM Defiant as Coalition Cracks (FT)
• IMF urges cuts in Irish minimum wage and dole payments (Irish Times)
• Europe Has Not Yet Rescued Ireland (FT)
• Markets’ Bail-Out Relief Rally Is Short-Lived (FT)
• Fed Adopts Political Tactics on Critics (NYT)
• Volatility bumps up agricultural trading costs (FT)

Economic Highlights:

• Euro-Zone PMI Composite 55.4 - higher than expected. Consensus 53.6. Previous 53.8.
• Euro-Zone PMI Manufacturing 55.5 - higher than expected. Consensus 54.4. Previous 54.6.
• Euro-Zone PMI Services 55.2 - higher than expected. Consensus 53.2. Previous 53.3.
• Germany GDP nsa for Q3 3.9% y/y – in line with expectations.Consensus 3.9%. Previous 3.9%.       
• Germany GDP s.a. for Q3 0.7% q/q – in line with expectations.Consensus 0.7% q/q. Previous 0.7% q/q.
• Germany PMI Manufacturing58.9 - higher than expected.Consensus 56.8. Previous 56.6.
• Germany PMI Services58.6 - higher than expected.Consensus 55.8. Previous 56.0.
• France Own-Company Production Outlook for November 11 - lower than expected.Consensus 15. Previous 16.
• France Production Outlook Indicator for November 8 - lower than expected.Consensus 10. Previous 9.          
• France Business Confidence Indicator for November 100 - lower than expected.Consensus 102. Previous 102.
• France PMI Manufacturing for November 57.5 - higher than expected.Consensus 55. Previous 55.2.  
• France PMI Services for November 55.7 - higher than expected.Consensus 54.8. Previous 54.8.
• Italy Consumer Confidence Ind. sa for November 108.5 - higher than expected.Consensus 107.4. Previous 107.7.
• Norway GDP s.a. for Q3 -1.6% q/q - lower than expected.Consensus 0.5% q/q. Previous 0.1% q/q.      
• Norway GDP Mainland Norway s.a for Q3 0.9% q/q – in line with expectations.Consensus 0.9% q/q. Previous 0.5% q/q

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